Hewlett-Packard's will release its first low-power server for hyperscale computing environments next quarter, CEO Meg Whitman said on Thursday.

Developed under 'Moonshot' project, the low-power servers were initially scheduled to EnergyCore ARM Cortex low-power chips made by Calxeda. However, HP later showed another Project Moonshot server design dubbed 'Gemini,' which was to be based on an Intel Atom processor codenamed 'Centerton.' Intel has said its chip consumes 6 watts of power, far less than its Xeon chips.

"We expect this to truly revolutionize the economics of the data center with an entirely new category of server that consumes up to 89 percent less energy, 94 percent less space and 63 percent less cost than a traditional x86 server environment," Whitman said on HP's earnings call Thursday.

HP did not say whether it could be that Atom server that HP plans to release next quarter. However, HP has a development roadmap of Gemini server cartridges incorporating processors from other vendors for use within the Gemini system, meaning that the servers would also be equipped with ARM-based chips.

Seperately, during Hewlett-Packard's first-quarter earnings conference call, CEO Meg Whitman refuted previous rumors and clarified that the company had no plans to to break up.

HP provided an earnings forecast for the Feb.-April quarter. The company earned $1.2 billion, or 63 cents per share, in the three months ending Jan. 31. Revenue fell 6 percent to $28.4 billion.

Whitman said HP still faces a "long road ahead" before its revenue is growing again. To help offset the revenue decline, HP is in the process of eliminating 29,000 jobs, in a streamlining scheduled to be completed by October 2014.